Question: Micatin Corp. reported the following on its comparative income statement: Perform a horizontal analysis of revenues and gross profit both in dollar amounts and

Micatin Corp. reported the following on its comparative income statement:

(in millions) Revenue........ 2006 2005 2004 $9,993 $9,489 $8,995 Cost of sales

Perform a horizontal analysis of revenues and gross profit — both in dollar amounts and in percentages — for 2006 and 2005. 

(in millions) Revenue........ 2006 2005 2004 $9,993 $9,489 $8,995 Cost of sales 5,905 5,785 5,404

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